Franklin Resources Inc. lowered its position in Signature Bank (NASDAQ:SBNY) by 34.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 670,588 shares of the bank’s stock after selling 350,454 shares during the period. Franklin Resources Inc. owned approximately 1.22% of Signature Bank worth $92,045,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of SBNY. Harding Loevner LP grew its position in shares of Signature Bank by 138.0% in the 3rd quarter. Harding Loevner LP now owns 1,802,550 shares of the bank’s stock worth $94,865,000 after buying an additional 1,045,206 shares during the last quarter. CI Global Investments Inc. grew its position in shares of Signature Bank by 176.8% in the 4th quarter. CI Global Investments Inc. now owns 920,249 shares of the bank’s stock worth $126,313,000 after buying an additional 587,749 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Signature Bank by 44.6% in the 3rd quarter. Nordea Investment Management AB now owns 1,419,824 shares of the bank’s stock worth $181,794,000 after buying an additional 437,670 shares during the last quarter. Parnassus Investments CA grew its position in shares of Signature Bank by 22.9% in the 4th quarter. Parnassus Investments CA now owns 1,610,000 shares of the bank’s stock worth $220,989,000 after buying an additional 300,000 shares during the last quarter. Finally, Davis Capital Partners LLC grew its position in shares of Signature Bank by 122.9% in the 3rd quarter. Davis Capital Partners LLC now owns 535,000 shares of the bank’s stock worth $68,501,000 after buying an additional 295,000 shares during the last quarter. 94.90% of the stock is currently owned by hedge funds and other institutional investors.
SBNY stock traded down $4.13 during trading on Friday, reaching $136.02. The company had a trading volume of 412,217 shares, compared to its average volume of 425,988. The stock has a market capitalization of $7,705.31, a PE ratio of 15.27, a price-to-earnings-growth ratio of 1.17 and a beta of 1.10. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 1.10. Signature Bank has a twelve month low of $116.68 and a twelve month high of $161.92.
Signature Bank (NASDAQ:SBNY) last released its earnings results on Thursday, January 18th. The bank reported $2.43 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.20. Signature Bank had a net margin of 25.71% and a return on equity of 12.72%. The company had revenue of $328.27 million during the quarter, compared to analysts’ expectations of $321.86 million. During the same period last year, the business earned $2.11 EPS. equities research analysts expect that Signature Bank will post 11.15 earnings per share for the current year.
SBNY has been the topic of a number of analyst reports. BMO Capital Markets reaffirmed a “buy” rating and issued a $163.00 price objective on shares of Signature Bank in a research report on Wednesday, December 20th. Stephens reaffirmed a “buy” rating on shares of Signature Bank in a research report on Friday, January 19th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $181.00 price objective on shares of Signature Bank in a research report on Tuesday, February 27th. Piper Jaffray reaffirmed a “hold” rating and issued a $149.00 price objective on shares of Signature Bank in a research report on Tuesday, January 9th. Finally, UBS assumed coverage on shares of Signature Bank in a research report on Wednesday, March 21st. They issued a “neutral” rating and a $163.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $159.75.
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About Signature Bank
Signature Bank provides various business and personal banking products and services. It accepts various deposit products, including commercial checking accounts, money market accounts, escrow deposit accounts, cash concentration accounts, interest-bearing and non-interest-bearing checking accounts, certificates of deposit, time deposits, and other cash management products.
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